In the last decade, we have seen a significant momentum in the adoption of real-time payments. Businesses are increasingly offering value-adding services to their customers and as a result, payment innovators around the globe are now looking at new ways to initiate payments while exploring the implications on authorisation and identification. read more

Suncorp has drawn a line under its overly ambitious plan to become the Amazon of financial services. The company plans instead to divert its tech expertise into piecing together a digital bank to cut costs and retain customers. read more

The RBNZ surprised markets with a deeper than expected cut to the OCR. Reserve Bank Governor Adrian Orr said the bank’s Monetary Policy Committee “tossed and turned around” before decided to cut the rate by a full 50 basis points to one percent, in hopes of stimulating the economy against a global slowdown. Economists had forecast just a 0.25 percent cut. read more

FMA CEO Rob Everett says the regulator, which has asked the New Zealand government for more funding and the power to take immediate action against misconduct in the banking and insurance industries, was optimistic the government would follow through and introduce new legislation before next year’s general election. read more